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How will you look to mitigate Labour’s tax hikes? (Part deux)

320 replies

EverythingAllatOnceAllTheTime · 30/08/2024 15:30

How will you look to reduce the impact of Labour’s seemingly endless (imminent) tax hikes?

OP posts:
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taxguru · 02/09/2024 12:01

EverythingAllatOnceAllTheTime · 02/09/2024 10:59

Angela Rayner - a grownup.

I must confess - I am seriously struggling with that description. The equivalent of a diversity hire. Unqualified. A trade unionist.

Would not last five minutes on the world stage.

And she’s DP.

The mind boggles.

Exactly the same with John Prescott being deputy PM who was basically incompetent at everything he touched, such as regional devolution.

These are just political appointments to appease the unions!

EverythingAllatOnceAllTheTime · 02/09/2024 12:02

taxguru · 02/09/2024 12:01

Exactly the same with John Prescott being deputy PM who was basically incompetent at everything he touched, such as regional devolution.

These are just political appointments to appease the unions!

Agreed, although not a bad right jab.

OP posts:
Papyrophile · 02/09/2024 12:46

"Safer inside the tent pissing out, than outside pissing in" as someone (LBJ?). Accurate, if vulgar.

Papyrophile · 02/09/2024 12:53

@Haroldwilson How is trail hunting horrible or cruel? You do know that the hunt just follows a scent trail don't you?

Bromptotoo · 02/09/2024 13:06

Papyrophile · 02/09/2024 12:53

@Haroldwilson How is trail hunting horrible or cruel? You do know that the hunt just follows a scent trail don't you?

Not too good for the dogs perhaps?

Zonder · 02/09/2024 13:08

I'm interested to know what you think the alternative is given the financial mess the country has been left in.

Papyrophile · 02/09/2024 13:14

Hounds love chasing scents. It is, quite literally, their favourite thing to do. My DSis used to have a beagle and the blinking animal would disappear after an enticing smell for hours. He came to stay for six weeks and I was at my wits end.

iwishihadknownmore · 02/09/2024 13:16

EasternStandard · 02/09/2024 11:09

That ‘grown up’ line is getting a bit tired, they seem somewhat out of their depth.

They should try to avoid damaging business confidence as they continue to lead otherwise we’ll all feel it.

If you look at that graph on the link i posted, business confidence goes up and down like a seesaw in a childrens playground, its still higher than in Feb 24.
As we haven't really seen much of any politician over the Summer, you re showing your bias with the "out of their depth" comment, jury is out on that.

We also don't know what Reeves is planning to do in October, its all speculation.

Its hardly Labours fault they have to fund a tory NI cut is it or do you think it should be reversed?

MLMsuperfan · 02/09/2024 13:20

Flibflobflibflob · 31/08/2024 20:51

If you change the tax environment you change behaviour, it’s obvious really. I remember when tax credits were introduced, Labour thought it would encourage more mums into work and it had the opposite effect, more stayed at home with their kids. Which is a really very obvious outcome.

I don’t know why people think that high earners won’t/shouldn’t change their behaviour in response to a new environment. Increasingly theres a protected class of public sector workers whilst private sector workers are left to scrabble around to find ways to actually have a reasonable retirement and build some wealth. Obviously most won’t be as well off as OP but there are plenty of people who feel like they are constantly being shaken down because they work full time in the private sector.

A government hoovering money up from people who generate growth is a really bad idea. The more extractive the government gets the more people will change their behaviour. Changes to CGT could also affect how people invest. I know someone desperately trying to dispose of an asset now and DH and I are sitting on some that we feel no urgency to dispose of but definitely won’t if CGT rates are equalised with income tax rates. You may quickly find that tax receipts start falling rather than increasing.

So well said. So much of the public funding bill now goes to a relatively small group; those in skilled employment. Highly trained and invested. Making the UK a skills based economy.

These broad shoulders already bear a huge brunt. Over half UK income tax is paid by less than ten percent of workers.

It's not sustainable, and far from being an unlimited well, billing this group even more risks long term damage to Britain's economy and international reputation.

JenniferBooth · 02/09/2024 13:41

Randommother · 02/09/2024 05:21

I’ll be taking a serious look at my earnings, investments and tax burden. I’m seriously fucked off with feeling on the edge of burn out, not getting quality time with my family and being taxed at every turn! We need to fill the coffers though economic growth, not by increased taxation and certainly not by removing the winter fuel payment from some of our poorest members of society who are unable to earn an income to replace it!

There was a Labour mp (or ex Labour MP didnt catch his name) on LBC earlier reminding people that they can claim Pension Credit. But didnt say some are just over the threshold to claim it or that you cant claim it if you are a mixed age couple (if one is still under state pension age) Its what they are not saying that is the problem.

taxguru · 02/09/2024 13:46

JenniferBooth · 02/09/2024 13:41

There was a Labour mp (or ex Labour MP didnt catch his name) on LBC earlier reminding people that they can claim Pension Credit. But didnt say some are just over the threshold to claim it or that you cant claim it if you are a mixed age couple (if one is still under state pension age) Its what they are not saying that is the problem.

Sounds just like Sunak's covid support grants when literally a pound one way or another would block grants of several thousand pounds.

I'd love to know which absolutely numpties make up these rules without thinking of the consequences and permutations, and then the MPs who are clearly too thick to understand the problems caused (or too lazy to do a few minutes of research to understand them).

Bromptotoo · 02/09/2024 14:00

Anybody who gets the standard rate of the 'new' post 2016 rate of State Pension, £221.20, is likely to be over the limit for Pension Credit. However, if that are a Carer or are treated as living alone, receive a qualifying benefit and nobody is being paid Carers Allowance/Carer Element for then the limit is higher. In the second case a lot higher.

Araminta1003 · 02/09/2024 14:03

Hands up who thinks there will be a forced through vote on getting rid of the WFA - I give it a few weeks, and that is optimistic thinking. They will be forced to scrap this in no time.

Bromptotoo · 02/09/2024 14:11

Araminta1003 · 02/09/2024 14:03

Hands up who thinks there will be a forced through vote on getting rid of the WFA - I give it a few weeks, and that is optimistic thinking. They will be forced to scrap this in no time.

They've got a huge majority.

It would need rebellion on an unprecedented level for the government to be defeated. There were similar issues of principle around benefits under Blair concerning single parents and, later Incapacity Benefit. Between 50 and 60 Labour MPs voted against but both passed.

EverythingAllatOnceAllTheTime · 02/09/2024 14:15

Bromptotoo · 02/09/2024 14:11

They've got a huge majority.

It would need rebellion on an unprecedented level for the government to be defeated. There were similar issues of principle around benefits under Blair concerning single parents and, later Incapacity Benefit. Between 50 and 60 Labour MPs voted against but both passed.

They are massively exposed to headline risk.

A few old folk passing away during a cold snap, can influence policy no end.

OP posts:
Bromptotoo · 02/09/2024 14:23

There will be a blitz on Pension Credit this week. I've just had an email from DWP with details. It's massively underclaimed, 800,000 people who might get it and don't on DWP's own numbers.

Because it's a passport benefit for Housing Benefit and Council Tax Reduction the gains from an award can be very significant indeed.

The bit I mentioned above about people living alone and on Attendance Allowance etc is particularly ill publicised.

EasternStandard · 02/09/2024 14:39

iwishihadknownmore · 02/09/2024 13:16

If you look at that graph on the link i posted, business confidence goes up and down like a seesaw in a childrens playground, its still higher than in Feb 24.
As we haven't really seen much of any politician over the Summer, you re showing your bias with the "out of their depth" comment, jury is out on that.

We also don't know what Reeves is planning to do in October, its all speculation.

Its hardly Labours fault they have to fund a tory NI cut is it or do you think it should be reversed?

The ‘grown up’ line is bias

we’ll see how it goes

iwishihadknownmore · 02/09/2024 15:12

EasternStandard · 02/09/2024 14:39

The ‘grown up’ line is bias

we’ll see how it goes

Agree, which is why i wouldn't use it.

Also agree on your earlier comment on EU, its far too late now, my concern is Lab have ruled such things as SM, CU or EFTA. which would help grow the economy, the idea he can do FTA s with individual EU countries is poppycock.

Papyrophile · 02/09/2024 20:06

I can respect and admire Angela Rayner's achievements and progress in life, without endorsing her views or opinions.

JenniferBooth · 03/09/2024 21:30

Labour being urged to raise pension age to 68. So more parents can kiss goodbye to the free childcare that some grandparents provide.

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